NDB Bank recently hosted a transformative financial mastery workshop aimed at empowering tech professionals with crucial financial skills. Held on July 12th at the eMarketingEye (Pvt) Limited premises, the event was initiated by NDB Bank’s Nugegoda branch to provide IT and digital marketing professionals with the tools needed for informed financial decision-making and enhanced financial
The Government of Japan has officially decided to resume disbursement for Yen Loan Projects in Sri Lanka, which were suspended following the country’s default in 2022. This decision was announced at a joint press conference by the Sri Lankan Finance Ministry, the Embassy of Japan, and the Japan International Cooperation Agency (JICA) Sri Lanka Office.
The Cabinet of Ministers has approved a set of amendments aimed at expediting the tax appeal process to address delays that have impeded the collection of Rs. 73 billion in taxes. In response to the need for a more efficient system, the Cabinet has directed the Legal Draftsman to prepare a draft that will streamline
Fitch Ratings has affirmed the ‘BBB(lka)’ insurer rating for Sri Lanka’s National Insurance Trust Fund (NITF), maintaining a stable outlook but cautioning about the Fund’s difficulty in securing timely reinsurance cover. NITF’s major revenue source is from riots, civil commotion, and terrorism (SRCCT) premiums, with claims remaining low. Key points from Fitch’s assessment include:
Sri Lanka’s cabinet has approved five companies to operate foreign exchange counters at Bandaranaike International Airport, according to Minister Bandula Gunawardana. Following a competitive tender process, the selected firms are Bank of Ceylon, People’s Bank, Sampath Bank, Commercial Bank, and Thomas Cook. The franchise agreements will be effective for three years.
The International Monetary Fund (IMF) announced that it welcomes Sri Lanka’s finalization of debt restructuring agreements with major creditor nations, marking a significant step towards restoring debt sustainability. According to IMF’s Senior Mission Chief in Sri Lanka, Peter Breuer, the agreements reached with China and other creditor nations to restructure approximately $10 billion in bilateral
Sampath Bank has announced robust financial results for the first quarter of 2024, posting a profit before tax (PBT) of Rs 6.2 billion and a profit after tax (PAT) of Rs 3.4 billion. Despite an exchange loss of Rs 4.3 billion due to the appreciation of the LKR against the USD, the bank achieved significant
The Colombo Stock Exchange (CSE) and the United States Agency for International Development (USAID) recently collaborated on an informative forum aimed at assisting small and medium-sized enterprises (SMEs) in southern Sri Lanka. Held at the Weligama Bay Marriott Resort & Spa, the event titled “Redefining the Trajectory of Your Business” provided valuable insights into capital-raising
HNB FINANCE PLC, a prominent financial services provider, has announced a strategic collaboration with the Co-operative Thrift and Credit Union (Sanasa) aimed at extending innovative financial solutions to underserved rural communities nationwide. This Memorandum of Understanding (MoU) marks a significant step towards financial inclusion, enabling residents in remote villages, previously devoid of advanced financial services,
Sampath Bank has made waves in Sri Lanka’s banking industry with the launch of its cutting-edge mobile application, Sampath Vishwa Retail. This innovative step represents a significant advancement in internet banking, offering customers unprecedented convenience and accessibility. With a user base exceeding one million, which accounts for approximately 25% of the bank’s clientele, Sampath Vishwa